Report Company
Byco Petroleum Pakistan Limited
The Byco Group (formerly Bosicor Group) was founded by the Late Chairman, Mr. Parvez Abbasi with the support of Byco Busient Incorporated (BBI) formerly Bosicor Corporation Limited (BCL), as the sponsoring Company. Mr. Abbasi left for his eternal abode on the 25th of July, 2006.
BBI is pioneering the change in the energy sector of Pakistan and initially entered the oil refining business through the formation of Bosicor Pakistan Limited (BPL), now Byco Petroleum Pakistan Limited (BPPL), a refinery with a design capacity of 30,000 barrels per day (bpd) and listed in all Stock Exchanges of Pakistan.
In February 2008, realizing the immense potential that Byco companies possesses, Abraaj Capital Limited (ACL), a leading private equity firm of Middle East, North Africa and South Asia (MENASA), joined hands with BBI . Under the agreed arrangement, a Joint Venture of BBI and ACL in the ratio of 60% and 40% respectively, was established in Mauritius by the name of Byco Industries Incorporated (BII), which now owns 100% of Byco Oil Pakistan Limited (BOPL) [formerly Bosicor Oil Pakistan Limited]. ACL injected further cash equity of over USD135.0 million for their stake in BOPL through BII in addition to investment already made by BBI in these entities.
ACL has provided additional funds to BII for acquiring shareholding in BPPL and a Mandatory Tender Offer (MTO) has recently been launched by Byco Industries Incorporated (BII) to acquire up to 34.81% shares of BPPL from the market, BBI already owns 55.19% of the issued share capital of BPPL.
Byco and its associated entities have interests in the oil refining, petroleum marketing and chemical manufacturing in Pakistan:
1.
Byco Petroleum Pakistan Limited (BPPL) Oil Refining & Petroleum Marketing
2.
Byco Oil Pakistan Limited (BOPL) Oil Refining & Chemical Manufacturing
BPPL was incorporated in Pakistan as a public limited company on January 09, 1995 and was granted the certificate of commencement of business on March 13, 1995. The shares of the company are listed on the Karachi, Lahore and Islamabad Stock Exchanges. The Company is engaged in the business of refining crude oil into various saleable components including High Speed Diesel (HSD), Liquefied Petroleum Gas (LPG), Motor Spirits (MS), High Octane Blending Components (HOBC), Kerosene (K-Oil), Jet Fuels, Furnace Oil and Naphtha.
Oil Refinery is located at District Hub, Lasbela, Balochistan. The Company started its commercial production from July 1, 2004 and ramped up the capacity to 30,000 bpd from February 2008 after debottlenecking of the whole plant.
Refining capacity was enhanced by 5,000 bbl/day during turnaround in June 2010, hence making the total refining capacity to 1.738 (million metric tons per annum) or 35,000 (barrels per day).
BBI is pioneering the change in the energy sector of Pakistan and initially entered the oil refining business through the formation of Bosicor Pakistan Limited (BPL), now Byco Petroleum Pakistan Limited (BPPL), a refinery with a design capacity of 30,000 barrels per day (bpd) and listed in all Stock Exchanges of Pakistan.
In February 2008, realizing the immense potential that Byco companies possesses, Abraaj Capital Limited (ACL), a leading private equity firm of Middle East, North Africa and South Asia (MENASA), joined hands with BBI . Under the agreed arrangement, a Joint Venture of BBI and ACL in the ratio of 60% and 40% respectively, was established in Mauritius by the name of Byco Industries Incorporated (BII), which now owns 100% of Byco Oil Pakistan Limited (BOPL) [formerly Bosicor Oil Pakistan Limited]. ACL injected further cash equity of over USD135.0 million for their stake in BOPL through BII in addition to investment already made by BBI in these entities.
ACL has provided additional funds to BII for acquiring shareholding in BPPL and a Mandatory Tender Offer (MTO) has recently been launched by Byco Industries Incorporated (BII) to acquire up to 34.81% shares of BPPL from the market, BBI already owns 55.19% of the issued share capital of BPPL.
Byco and its associated entities have interests in the oil refining, petroleum marketing and chemical manufacturing in Pakistan:
1.
Byco Petroleum Pakistan Limited (BPPL) Oil Refining & Petroleum Marketing
2.
Byco Oil Pakistan Limited (BOPL) Oil Refining & Chemical Manufacturing
BPPL was incorporated in Pakistan as a public limited company on January 09, 1995 and was granted the certificate of commencement of business on March 13, 1995. The shares of the company are listed on the Karachi, Lahore and Islamabad Stock Exchanges. The Company is engaged in the business of refining crude oil into various saleable components including High Speed Diesel (HSD), Liquefied Petroleum Gas (LPG), Motor Spirits (MS), High Octane Blending Components (HOBC), Kerosene (K-Oil), Jet Fuels, Furnace Oil and Naphtha.
Oil Refinery is located at District Hub, Lasbela, Balochistan. The Company started its commercial production from July 1, 2004 and ramped up the capacity to 30,000 bpd from February 2008 after debottlenecking of the whole plant.
Refining capacity was enhanced by 5,000 bbl/day during turnaround in June 2010, hence making the total refining capacity to 1.738 (million metric tons per annum) or 35,000 (barrels per day).